What they earn: Vice CEO Shane Smith’s $300,000 steak dinner

Who is he?

Shane Smith is the CEO of Vice Media, the youth media company and digital content creation studio.

What’s he buying?

During a recent trip to Las Vegas, Smith paid $300,000 for dinner at the Bellagio casino’s Prime Steakhouse.

$300,000? On a steak?

It wasn’t just one steak. He paid the bill for the entire dinner party. According to Bloomberg, accounts vary on the exact number, but it’s estimated that there were between 12 and 25 people at the dinner table.

How much do these steaks cost?

The Prime Steakhouse’s most expensive steak – the 28oz bone-in rib eye – comes in at $85. They’re unlikely to have made much of a dent in the price. The lion’s share of the cost probably went on wine, which, the FT reports, cost $15,000 a bottle.

The Las Vegas meal is not the only big spend from Mr Smith in recent times. According to Gawker, at Vice’s 2014 Christmas party, Smith gave $1m to Vice employees as “stocking stuffers”.

How does he afford all of this?

On the night of the steak meal, Mr Smith had reportedly won $100,000 in a game of blackjack earlier in the evening. But even without that, he’s not exactly short of cash. Vice has been growing in the last few years – receiving investments worth $500m last year alone ($250m each from Technology Crossover Ventures and A+E Networks).

Smith claims to be worth over $1bn. But in 2013, Forbes estimated that it was closer to $400m. It’s still enough to keep him in steak and wine for the rest of his life though.

As Smith told Forbes, “At this point, I don’t give a sh** about money. I’m worth more money than I can ever spend”.

Merryn

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